Butler Snow Advisory’s Scott Stone was recently quoted in an Axial Forum article on the use of the discounted cash flow (DCF) method of company valuation.  The article, which highlighted the method’s down-trending favor among advisors and finance experts, can be read on the Axial website.

Stone is a Principal in BSA’s Birmingham office where he works with clients to evaluate the financial and operation interconnections that help ensure their firm’s profitability.

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Butler Snow is pleased to announce that Steve Groom – former chief legal officer of CoreCivic, formerly Corrections Corporation of America, and long time executive – has joined the firm’s Nashville office. He will serve in a dual capacity as a principal in the firm’s business advisory subsidiary, Butler Snow Advisory Services (BSA), and practice in the law firm, Butler Snow, in an of counsel role.

Steve Groom

Groom has extensive business, financial services and dispute resolution experience, and most recently was executive vice president, general counsel and secretary to CoreCivic, where he will continue to serve as special counsel.

“Steve is a successful executive, who has broad corporate and legal experience, and not only will he be an asset to the firm but will help spearhead Butler Snow Advisory’s efforts in Nashville,” said Donald Clark, Jr., chairman, Butler Snow. “Steve has played a significant role in the executive leadership team at CoreCivic, and we are thrilled to have his strategic counsel and legal experience available to our team and our clients.”

Throughout his career in the corporate world, Groom has gained experience and knowledge in the areas of corporate governance and strategy, risk management and compliance, banking and finance, leadership training and development, as well as a significant involvement in mediations and arbitrations. Groom is a Rule 31 listed general civil mediator.

“I am excited to join Butler Snow’s Nashville team and look forward to working with both the law firm and its business advisory subsidiary”, said Groom. “As a client of the firm for the past 15 years, I have the greatest respect for the firm’s competence and professionalism. The added benefit of having the opportunity to leverage both my legal and corporate advisory experience for the benefit of both entities’ clients makes Butler Snow a great fit for me.”

In addition to spending almost a decade in the private practice of law before joining CoreCivic, Groom served for 11 years in executive, senior management and general counsel roles with SunTrust Banks, Inc. He began his career as a banker with Memphis Bank and Trust Company.

Groom serves on the board of advisors of Lipscomb University’s Institute for Conflict Management and is an adjunct faculty member teaching mediation, negotiation and conflict resolution. He serves on the board of visitors of Lipscomb University’s College of Business and the board of directors of the American Cancer Society.

Groom is a member of the National Association of Corporate Directors, Society of Corporate Compliance & Ethics, Tennessee Association of Professional Mediators, International Institute for Conflict Prevention and Resolution, Association for Conflict Resolution, Risk Management Association, Tennessee Bankers Association, Bank Lawyer’s Committee, Tennessee Bar Association, Nashville Bar Association, Dispute Resolution Resource Center and the International Association of Privacy Professionals.

Groom received his undergraduate degree from Lipscomb University, where he ran track and cross-country as a scholarship athlete. He received his Juris Doctor from the University of Memphis Law School, where he was a member and author of the Law Review.

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MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $15,500,000 senior credit facility to Texarkana, Arkansas based Tri-State Iron & Metal Co., Inc. (“Tri-State”), a client of Butler Snow Advisory Services, LLC (BSA). Tri-State is a third-generation, family-run business that has been in business since 1947. They are a metals recycler that recycles both ferrous and nonferrous materials, as well as a small amount of paper and plastic. MB’s credit facility will be used going forward to fund working capital needs and acquisitions.

“MB Business Capital understands and has extensive experience working with cyclical companies like Tri­ State. We creatively structure facilities that allow our borrowers to have full control over their availability requirements. We are very happy to welcome Tri-State Iron & Metal Co., Inc. to MB.” says Michael Sharkey, President of MB Business Capital.

“We have been in business for over 70 years and in that time we have had two banks. Now that we are with MB Business Capital we look forward to working together with them as our third banking relationship. Their desire to understand our business and growth plans are what helped us decide to make the change. Our family and team here at Tri-State look forward to a long lasting relationship built on trust and understanding of the dynamic environment we operate in.” says Howard Glick, CEO of Tri-State Iron & Metal Co., Inc.

BSA provided assistance on the new transaction. Butler Snow Advisory is a subsidiary of the law firn of Butler Snow LLP. With offices in Memphis and Nashville, Tennessee, Birmingham, Alabama and Jackson, Mississippi, BSA works with clients throughout the country as they address their most critical challenges and opportunities, helping to lead their businesses through periods of growth and transformation. Butler Snow Advisory specializes in providing executive-level strategic guidance to private, family owned and closely held companies

“MB Capital was a pleasure to work with throughout the process of establishing this new credit facility. Their team displayed a genuine desire to understand the metal recycling business and to architect a solution that was customized to our needs. The Tri-State team has delivered outstanding results in the face of market fluctuations, and this new facility will ensure that ample capital exists to support future growth. Butler Snow Advisory is pleased to have partnered with Tri-State and MB Business Capital to forge this new relationship.” said Scott Stone, Principal at Butler Snow Advisory.

About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial.

 

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CLEVELAND, OHIO — Constant Aviation, offering full-service maintenance, repair and overhaul with a nationwide network, announced the completion of its acquisition of StarPort, a full-service MRO and FBO based in Sanford, FL (KSFB).  Butler Snow Advisory Services represented Starport in the transaction.

Stephen Maiden, President and CEO of Constant Aviation, said, “The acquisition of StarPort provides us continued growth in the Southeast with a 75,000-square foot facility that supports maintenance, interior, paint and FBO operations. It represents an opportunity to expand our business into the exterior paint market, while significantly enhancing our presence in the southeast region of the country. Our transition
plans include the immediate investment of approximately $2M into the paint facility. The upgrades to the paint facility will help increase capacity, allow for quicker turn times, and will utilize the best advancements in technology. The integration of StarPort into the Constant network will be done strategically so that our organization can continue to operate as a collective unit. Our initial focus at the Orlando-based location will be adding team members to boost capacity and increase capabilities.”

“StarPort is well known for their superior paint and interior refurbishment capabilities, specifically on the Falcon, Hawker/Beech, and Bombardier platforms. Constant will be investing in training and necessary tooling to expand the product line offerings to include our niche aircraft which will begin with the Embraer, Cessna and Gulfstream airframes,” continued Maiden.

About Constant Aviation

Constant Aviation has locations at Cleveland Hopkins International Airport, Cuyahoga County Airport, Birmingham International Airport, Las Vegas International Airport and Orlando Sanford International Airport. Constant specializes in airframe and engine maintenance, major repairs, avionics, interior refurbishment, paint, parts distribution and accessory services. As one of the fastest growing MRO’s in the country, Constant Aviation understands the importance of aircraft availability, predictability and minimizing operational costs for their customers. Constant Aviation has raised the bar in aircraft maintenance expectations and provides customers with a one-stop shop option when it comes to maintenance events.  For more information, please visit www.constantaviation.com or call 216.261.7119.

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Butler Snow Advisory Services, LLC
(BSA), announced today the company’s continued expansion with the addition of Sam J. Jenkins, Managing Director, to its Memphis location and Blair R. Badham, Managing Director, to its Birmingham office.

“We’re excited about our continued growth in both Memphis and Birmingham and are pleased to add two accomplished professionals to our team,” said President and CEO Matt A. Thornton.  “Sam and Blair have extensive corporate and investment banking expertise, and they will be tremendous assets to our team and to the clients we serve.”

Sam Jenkins

Sam Jenkins

Jenkins has more than 35 years’ experience in corporate finance and investment banking, including a 28-year career with First Tennessee Bank.  As Executive Vice President of corporate banking, he led and managed the bank’s efforts to attract and maintain Middle and Corporate Market clients across the country, helping develop and implement marketing and business development strategies. Under Jenkin’s leadership, the Corporate Banking Group was ranked first company-wide for overall Contribution Income (NIBT), Contribution Income per FTE, Treasury Services Sales, Deposits Acquisition, Derivative and Loan and Ancillary Fee Production for 2005-2008.

Jenkins joins the BSA team from Capstone Financial Services, a Memphis-based corporate advisory firm he founded in 2009 to serve commercial and corporate clients, community and regional banks and private equity capital providers across the Southeast. He holds a B.A. from the University of Alabama, with a focus on finance and banking, and an M.B.A. from the University of Memphis, where he graduated first in his class.

Badham brings over a decade of experience in corporate finance, strategy and operations to the group.  Previously, he served as Director of Business Development for EBSCO Capital, the investment division of EBSCO Industries with $300 million in committed equity capital.  Headquartered in Birmingham, EBSCO Industries is a privately held conglomerate comprised of over 20 businesses and more than $2.5 billion in annual revenue.

Blair Badham

Blair Badham

During his time at EBSCO Capital, Badham established the firm’s business development function and was responsible for deal origination, investment opportunity analysis and the overall marketing strategy for the firm, an effort that led to the successful sourcing and closing of a number of new platform and add-on acquisitions.

Prior to his tenure at EBSCO Capital, Badham served in multiple capacities for Jemison Metals, a Birmingham-based steel service center, where he helped the firm grow by expanding its presence with Fortune 500 manufacturers.  Badham began his career in commercial banking, where he worked in the commercial and industrial lending group at First Commercial Bank for five years.

Badham earned a B.S. from the University of Alabama and an M.B.A., with honors, from Samford University’s Brock School of Business.

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Butler Snow Advisory Services (BSA) is pleased to announce that Michael E. Harris, a seasoned business executive, has joined as principal in its Memphis office. He brings more than 40 years of corporate leadership and business experience to the BSA team.

Harris most recently served as executive vice president and chief operating officer of Highwoods Properties, Inc. (NYSE: HIW), a publicly traded real estate investment trust (“REIT”), based in Raleigh, N.C., and a member of the S&P MidCap 400 Index. Harris retired from Highwoods on Aug. 31 after 19 years of service, and has recently relocated back to Memphis.

Mike Harris

Mike Harris

“Mike will bring broad and valuable experience to Butler Snow Advisory Services, and will spearhead our continued growth in the Memphis and Mid-South markets,” said Matt Thornton, president and chief executive officer of BSA. “Mike played a significant role in the highly regarded senior leadership team at Highwoods, and we are thrilled to provide his strategic and transactional expertise and knowledge to our team, and our clients.”

Throughout his career, Harris has been intricately involved in virtually all aspects of leading and managing the operations of a company – from the development, leasing, acquisition and management of commercial real estate to oversight of various corporate divisions, including regional operations, development services, asset management, corporate marketing and human resources.

Prior to joining Highwoods, Harris was executive vice president of Crocker Realty Trust before Highwoods’ acquisition of that company in September 1996. Before joining Crocker, Harris spent 15 years as senior vice president, general counsel and chief financial officer of Towermarc Corporation, a privately owned real estate development firm. Harris began his career serving seven years as a senior commercial lending officer at First National Bank-Little Rock and Union Planters National Bank-Memphis.

Harris earned a bachelor’s degree in international relations and affairs from the University of Mississippi, a Juris Doctor from the University of Arkansas School of Law and a master’s of business administration (finance) from the University of Memphis. He is a member of the Urban Land Institute, Lambda Alpha International Land Economic Society (past president – Memphis chapter) and a past member of the American and Arkansas Bar Associations. He has also served on the advisory board of directors of Wachovia Bank – Memphis and Allen & Hoshall, a design and engineering firm.

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Brookhaven Medical, Inc., has announced the acquisition of FutureMatrix Interventional and CreatiVasc Medical, Inc., in a deal that further facilitates collaboration on a medical device aimed at reducing complications during dialysis treatment for the more than 400,000 dialysis patients in the United States.

“These are two premier medical device companies with great management and engineering teams,” said Brookhaven Medical CEO John Feltman.  “As Brookhaven-logoa major investor in CreatiVasc’s research and development since 2013, we are pleased to welcome CreatiVasc and FutureMatrix to the Brookhaven family. Medical advancements on the part of both companies support Brookhaven’s mission of embracing innovation to improve clinical outcomes resulting in cost savings for the healthcare system.”

FutureMatrix and CreatiVasc have collaborated for two years to develop an advanced balloon technology, key to the CreatiVasc Hemoaccess Valve System®.  This device allows the flow of blood in an AV graft to be turned on and off between dialysis sessions.

“We believe this innovation will reduce or perhaps even eliminate the complications associated with clotting and infection that commonly occur in dialysis patients who have AV grafts,” Feltman said.

According to a recent study in the New England Journal of Medicine, greater than 75 percent of patients with AV grafts must undergo an interventional surgical procedure within 12 months of implantation. Use of the Hemoaccess Valve System® stands to dramatically improve the quality of life for dialysis patients by largely eliminating these frequent interventional surgeries – effectively saving billions of dollars in associated healthcare costs, including those funded by Medicare.

“The Hemoaccess Valve System® has the potential to become the standard of care for dialysis graft implants, and we believe it may represent the most significant innovation in dialysis devices in more than 30 years,” Feltman said.

CreatiVasc expects to begin expanded human clinical trials for the Hemoaccess Valve System® in Summer 2015, and the device is expected to enter the market late next year.

Brookhaven also announced that CreatiVasc CEO Steve Johnson will serve as President of Brookhaven Medical, Inc.

“We have a dedicated team leading Brookhaven and are optimistic about our future,” Feltman said. “There are many exciting new products and customers in our pipeline, and we are evaluating several possible acquisitions as we move forward with our plans to build Brookhaven into a major diversified medical device company.”

Brookhaven Medical is a client of Butler Snow Advisory.  Members of the BSA team worked with Feltman on the company’s transaction, including Rick Gernert, Matt Thornton and Wesley Roberts.

About FutureMaxtrix
FutureMatrix Interventional is a leading multinational developer, manufacturer and marketer of innovative medical technologies in vascular, urology and surgical specialties.  Founded in 1993, FMI employs 340 employees at its manufacturing facility in Athens, Texas.

About CreatiVasc
Based in Greenville, South Carolina, CreatiVasc Medical, Inc., is an eight-year-old company that is currently developing a revolutionary Hemoaccess Valve System® for dialysis patients.  CreatiVasc is one of only three companies in the United States chosen for inclusion in the U.S. Food and Drug Administration’s (FDA) Innovation Pathway.  The Innovation Pathway ultimately aims to shorten the overall time and cost for the development, assessment and review of major breakthrough medical technologies that hold the promise of improving patient care and generating significant savings for the healthcare system.

About Brookhaven Medical, Inc.
Brookhaven Medical, Inc., is based in Atlanta, Georgia, and is an emerging developer, manufacturer and marketer of innovative medical technologies and solutions.  Brookhaven Chairman and CEO John Feltman is a serial entrepreneur and former investment banker who has two decades of experience creating and investing in a wide range of medical device companies.

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Butler Snow Advisory Services, LLC (BSA), announced today its expansion into the Birmingham market, adding even more experience to the team with the addition of C. Scott Stone.

StoneS-grid

Scott Stone

“We’re thrilled to have Scott join Butler Snow Advisory and lead our Birmingham office,” said President and CEO Matt A. Thornton. “His work with companies of all sizes, from Fortune 50 to startups, adds additional depth to our team and positions BSA to provide strategic guidance to companies in the growing Birmingham market.”

Stone has more than 20 years’ experience working with firms, both public and private, to evaluate the financial and operational interconnections that ensure profitability. His business advisory experience is vast, and he has served companies in CFO- and COO-in-Residence roles. He has evaluated technology solutions and utilization, developed management presentations to investors and financial institutions and advised executive teams and Boards of Directors on key business challenges and effective solutions for their firms.

Stone served in CFO and CAO roles for a $60M sector leading software provider, where he led a balance sheet restructuring that included multiple equity and debt capital transactions, as well as acquisitions and dispositions. He has served as COO of various companies, helping to grow client bases by a third and building multi-million-dollar sales pipelines. Stone also has extensive experience in the development and implementation of financial and operational planning and budgeting processes for companies.

As Marketing Director and Director of Finance & Business Operations for a Fortune 50 company, Stone led financial and operational functions for a two-state area that delivered more than $650M in annual revenues. Before joining BSA, he founded and served as Managing Partner of Sightline Resources, a financial and management consulting company.

Stone has a Masters of Professional Accountancy and a Bachelor of Science in Accounting from the University of Southern Mississippi. He is also a Certified Public Accountant and a Certified Information Technology Professional.

The Birmingham opening marks the company’s fourth location since its start in January 2011, with additional offices in Jackson, Miss., and Memphis and Nashville, Tenn.

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RIDGELAND, Miss., – Zenith Education Group, a newly created nonprofit provider of career school training, announced Tuesday that Troy A. Stovall, a former Butler Snow Advisory (BSA) Principal, would serve as the organization’s interim president.

Stovall joined the BSA team in September 2013 and advised clients nationwide as part of the firm’s service offerings.

StovallT-grid

Troy A. Stovall

Before joining BSA, Stovall founded and served as managing member of LeMaile Stovall LLC, a management consulting firm serving for-profit and nonprofit firms focused on strategy, operational performance and fundraising.  He also previously served as executive vice president and chief operating officer of Howard University and as senior vice president and chief financial officer of Jackson State University (JSU). In both roles, he led various construction, renovation, educational and information technology projects including: a redesign of benefits at Howard University that resulted in a $9 million savings, the launch of Howard’s online executive MBA program, and more than $300 million in new construction and renovation projects at JSU.

Read the Zenith press release or visit www.zenith.org for more information.

Butler Snow Advisory is a subsidiary of the law firm of Butler Snow LLP. With offices in Memphis and Nashville, Tenn. and Jackson, Miss., BSA works with clients throughout the country as they address their most critical challenges and opportunities, helping to lead their businesses through periods of growth and transformation. For more information, see the About Us section.

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Butler Snow Advisory (BSA) is proud to announce the launch of Intentional Faith, the second book authored by BSA Principal Martin WilloughbyIntentional Faith has been praised by spiritual, business and political leaders throughout the Mid-South for its “well-considered, practical wisdom” about leading a Christ-centered life.

Stan Buckley, Executive Director of But God Ministries praised Intentional Faith, which is Willoughby’s first faith-based book. “Get this book. Read this book. You will be glad you did.”

Mississippi Christian Living Publisher and Editor Marilyn Tinnin, who also contributed the book’s foreword, says, “How different the world might be if we all embraced our daily grind with our number one goal being to honor Christ and to live with such integrity that others see uniqueness.  That trait is nothing more than Christ in us, and Martin not only does it, but in the book, he tells us how we can do it, too.”

All proceeds from the book have been committed to Christ-led non-profit organizations, including ministries such as the Fellowship of Christian Athletes, an interdenominational Christian sports ministry dedicated to seeing the world impacted for Jesus Christ through the influence of athletes and coaches.

About Martin Willoughby

Martin Willoughby is a Principal of Butler Snow Advisory Services, a leading strategic consulting firm.  A regular columnist and writer for such publications as Pointe Innovation, the Mississippi Business Journal and Mississippi Christian Living, he is a graduate of Millsaps College (B.A.) and Mississippi College (J.D.).  Willoughby is also the author of ZOOM Entrepreneur, a playbook on how an entrepreneur should develop a business. A native of Jackson, Miss., Willoughby lives in Germantown, Tenn., with his wife, Nicki, and their two children. To learn more, visit www.martinwilloughby.com.

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